With your good credit you sign a contract to pay off the loan if the original borrower defaults.
Yes the person crashed the car is directly liable, but if you gave him the car and he was drunk or etc. you are also liable
Entirely situation dependent. We'd need to know the circumstances of the accident in order to give a correct and informed answer.
The owner of the car is liable for the accident itself and the damage. However, the insurance company might have to pay for it, depending on the owners insurance cover.
Well, you'll be liable for the loan, but that's about it, unless you had something to to with the so-called "accident" (which is rarely accidental, and more often the result of negligence).
That depends on what you're asking. Who filed bankruptcy? The owner of the car or the owner (holder) of the car loan? Did you co-sign on the loan? If you co-signed on the loan and the other signer files for bankruptcy, yes you are liable for the loan. If the owner (holder) of the car loan files for bankruptcy, you are still liable to the owner's creditors (and you need to find out who they are so you can get the lien released).
No, you can only be liable for the loan. If the car was totaled and did not have insurance then you can be held responsible for the balance on the loan. Any accident or damages that occurred would be the responsibility of the driver/owner of the vehicle. All your signature did was say that you will pay the loan if the borrower fails to do so.
If you co-signed the loan, yes, you will be personally responsible for the unpaid amount. if you did not co-sign the loan, your husband's ESTATE may be liable for the loan payoff. Talk to an attorney or the Probate Court for further information.
If you did not sign the document, and did not authorize anyone to sign for you, you should be able to get out of the contract. Someone, probably the person that asked you to co-sign, or the salesman for the vehicle, has committed fraud.
Yes if you co-sign for a vehicle you are just as liable as the primary person so if they dont pay you have to pay or both your credits are hurt
This question should be handled by an attorney,Any loan modification paper work signed after bankruptcy proceeding are a new contract which yes make you liable for that debt.
The person liable is the person who ignored the warning.
Until the loan is paid.Until the loan is paid.Until the loan is paid.Until the loan is paid.
Whoever's name is signed on the loan paperwork is the one liable.
your husband will be liable only if his name appears on the loan or mortgage documents as a co-guarantor of the loan